BTC is currently trading around $51,000 and ETH around $2,900. Notable gainers in the last 24 hours are FIL, CHZ, and XMR. The global crypto market cap is $2.03T, down 1.8% over the last day. DeFi Total Value Locked is ~$76b and BTC dominance is around 53%.
Notable news includes: Hong Kong’s central bank issued guidance for firms offering crypto custody services; the UK Economic Secretary to the Treasury is pushing the UK to complete staking and stablecoin legislation within the next six months; Mumbai launched a metaverse initiative to showcase upcoming infrastructure mega projects; Forbes bought virtual land in The Sandbox to encourage exploration, interaction, and collaboration through interactive experiences, workshops, and events; the CME announced plans to launch euro-denominated micro Bitcoin and Ether futures next month; PostFinance, Switzerland’s fifth largest retail financial institution, partnered with Sygnum to launch regulated trading and custody of 11 cryptocurrencies; Mastercard partnered with emerging markets-focused mobile payments app Swoo Pay to offer crypto loyalty rewards; eBay laid off 30% of its web3 and NFT staff; Silicon Valley tech incubator Y Combinator published a Request for Startups that included a call to build stablecoin companies; ETH hit $3,000 for the first time since April 2022; Starknet’s STRK token began trading today; and, a full set of ten Autoglyphs was sold for 5,000 ETH, making one of the top NFT sales ever recorded onchain.
Sign up to conveniently receive GSR crypto content in your inbox.
Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
This material is provided by GSR (the “Firm”) solely for informational purposes, is intended only for sophisticated, institutional investors and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the terms shown or otherwise), or to provide investment services in any state or country where such an offer or solicitation or provision would be illegal. The Firm is not and does not act as an advisor or fiduciary in providing this material. GSR is not authorised or regulated in the UK by the Financial Conduct Authority. The protections provided by the UK regulatory system will not be available to you. Specifically, information provided herein is intended for institutional persons only and is not suitable for retail persons in the United Kingdom, and no solicitation or recommendation is being made to you in regards to any products or services.
This material is not a research report, and not subject to any of the independence and disclosure standards applicable to research reports prepared pursuant to FINRA or CFTC research rules. This material is not independent of the Firm’s proprietary interests, which may conflict with the interests of any counterparty of the Firm. The Firm trades instruments discussed in this material for its own account, may trade contrary to the views expressed in this material, and may have positions in other related instruments.
Information contained herein is based on sources considered to be reliable, but is not guaranteed to be accurate or complete. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication, and are subject to change without notice. Trading and investing in digital assets involves significant risks including price volatility and illiquidity and may not be suitable for all investors. The Firm is not liable whatsoever for any direct or consequential loss arising from the use of this material. Copyright of this material belongs to GSR. Neither this material nor any copy thereof may be taken, reproduced or redistributed, directly or indirectly, without prior written permission of GSR.
